The projected final cost of Bermuda's new National Sports Centre has rocketed to $40 million.

Former Premier Sir John Swan said the estimated cost of the stadium complex was just $9 million back in 1993.

Now trustees say the final bill will come to at least four times that figure.

And the centre is unlikely to be finished until 2002 because of delays with funding and problems with the running track.

But trustees spokesman Charles Marshall said the stadium would be a "world class facility to attract world class sportsmen'' once the project is finished.

He said: "The latest estimate we have for the final cost of the project is in the region of $40 million.

"That figure could also change depending on the hurdles we might face. We had also been hoping to get the stadium completed by the year 2000.

"But now a more realistic finishing date would be in 2002. It all hinges around finance and having the necessary labour power to put the whole thing together.'' Trustees are already digging deep into their coffers to pay $1.5 million for a new synthetic running track next year.

Drainage problems mean the existing surface will have to be ripped up next summer, as revealed in The Royal Gazette last week.

But the project's backers are pressing ahead with plans to attract some of the world's top names in sport once the complex is finished.

Bermuda's Cricket Board of Control is hoping the centre may be able to stage a World Cup match when the West Indies host the tournament early in the next century.

The stadium's board of trustees are also in on-going talks with American NBA basketball officials about hosting pre-season exhibition events.

And US college basketball teams are already interested in coming to Bermuda for warm-up matches at the National Stadium.

Mr. Marshall added: "It will definitely be worth the wait. We want sportsmen to come to Bermuda to take part in world class events.

"That would also generate additional tourism revenue. We're also talking to senior hotel officials about hosting conferences on the site.''